Banco Santander S.A. Invests $622,000 in Eaton Corporation, PLC (NYSE:ETN)

Banco Santander S.A. purchased a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,290 shares of the industrial products company's stock, valued at approximately $622,000.

Several other institutional investors and hedge funds have also modified their holdings of ETN. IMA Advisory Services Inc. bought a new stake in shares of Eaton during the 1st quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter valued at $26,000. Creative Financial Designs Inc. ADV raised its position in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares during the period. Vermillion Wealth Management Inc. bought a new stake in shares of Eaton during the 4th quarter valued at $33,000. Finally, Abound Wealth Management raised its position in shares of Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company's stock.

Eaton Price Performance

Eaton stock opened at $384.42 on Tuesday. The stock has a market cap of $150.42 billion, a price-to-earnings ratio of 38.79, a price-to-earnings-growth ratio of 2.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The firm has a 50-day moving average of $352.19 and a two-hundred day moving average of $317.69.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 EPS. On average, research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be issued a $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a dividend yield of 1.1%. Eaton's payout ratio is currently 41.98%.

Analyst Ratings Changes

Several brokerages have recently commented on ETN. BNP Paribas Exane began coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.

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